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The Fed has enough evidence in hand

The Fed has enough evidence in hand | 05 June 2023

05 June 2023, GBP/USD

GBPUSD trading plan:

U.S. nonfarm payrolls increased by 339,000 jobs last month, the Labor Department said in its closely watched employment report. Data for April was revised up to show payrolls rising by 294,000 jobs instead of 253,000 as previously reported. This is a positive signal for the dollar. U.S. employment increased more than expected in May, but a moderation in wages could allow the Federal Reserve to skip an interest rate hike this month for the first time since embarking on its aggressive policy tightening campaign more than a year ago. Fed funds futures showed a 70% probability that the Fed will hold rates steady in two weeks, down from 60% on last week. This is a negative signal for the dollar.

Investment idea: range 1.2375 -1.2480.

David Johnson
Analyst of «FreshForex» company
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